Among the companies with shares expected to actively trade in
Monday's session are Apple Inc. (AAPL), Harry Winston Diamond Corp.
(HWD) and HHGregg Inc. (HGG).
Apple has cut its orders for components for the iPhone 5 due to
weaker-than-expected demand, indicating sales of the latest
smartphone haven't been as strong as previously anticipated,
according to a report in The Wall Street Journal, which cited
people familiar with the situation. Apple's orders for iPhone 5
screens for the January-March quarter, for example, have dropped to
roughly half of what the company had previously planned to order,
the people said. Shares fell 2.7% to $506.50 premarket. Shares of
component suppliers also trading lower. Avago Technologies Ltd.
(AVGO) fell 1.6% to $33.78, Cirrus Logic Inc. (CRUS) dropped 4.5%
to $30.15 and Qualcomm Inc. (QCOM) fell 1.6% to $63.85.
Swatch Group AG (UHR.VX) said Monday it had agreed to buy Harry
Winston Diamond's luxury brand diamond jewelry and timepiece
division for $750 million plus the assumption of up to $250 million
of pro forma net debt, in an acquisition that strengthens its
presence in the U.S. market and helps it expand into jewelry. The
deal doesn't include Harry Winston's mining activities, which will
change its name to Dominion Diamond Corp. when the transaction is
completed. Harry Winston shares rose 9.4% to $15.82 premarket.
Appliance and electronics retailer HHGregg logged
weaker-than-expected fiscal third-quarter results amid a projected
10% drop in same-store sales. The company noted it didn't play the
loss-leader game over the holidays in order to bolster margins,
which did improve the metric companywide. But the sale shortfall
meant earnings per share won't be as robust as analysts hoped.
Shares fell 6.1% to $7.41 premarket.
Francesca's Holdings Corp. (FRAN) has raised its guidance for
the fourth quarter, citing its holiday sales and margin
performance. Shares rose 8% to $30.50 premarket.
Alamos Gold Inc. (AGIGF, AGI.T) said it has commenced an offer
to acquire Aurizon Mines Ltd. (AZK, ARZ.T) for $780 million
Canadian dollars (roughly $792 million) in cash and shares.
Toronto-based Alamos said Aurizon shareholders can opt for C$4.65
(about $4.73) in cash or 0.2801 of an Alamos share for each share
held. Aurizon shares rose 27% to $4.40 premarket.
SunPower Corp. (SPWR) said Friday that it expects to incur $33
million to $40 million in restructuring charges, with most of those
costs to be booked in the fourth quarter. The solar-panel maker and
developer of solar power plants said the charges are related to a
plan announced in October. Shares fell 3.1% to $7.94 premarket.
Watchlist:
Standard & Poor's Ratings Services has upgraded the credit
ratings of Alliant Energy Corp (LNT) by one step, saying the
company now has a fully regulated utility strategy after it sold a
renewable-energy unit.
American International Group Inc. (AIG) filed a lawsuit against
Maiden Lane II, a vehicle created by the Federal Reserve Bank of
New York that held some of AIG's troubled mortgage bonds during its
government bailout, in a dispute over potentially valuable rights
to sue issuers of the underlying securities.
Biglari Holdings Inc. (BH) struck a licensing pact with its
chief executive, Sardar Biglari, agreeing to pay him royalties for
the use of his name if the firm changes control or if he is
involuntarily terminated.
A federal judge in New Orleans has granted final approval to the
medical-benefits portion of BP PLC's (BP, BP.LN) $7.8 billion
settlement to resolve claims related to the Gulf of Mexico oil
spill in 2010.
Charles Schwab Corp.'s (SCHW) investment management business
will join several other firms in posting the daily per-share market
value for its U.S. money market funds.
Encana Corp. (ECA, ECA.T) said President and Chief Executive
Randall Eresman is retiring after about 35 years with the natural
gas producer and has named director Clayton Woitas to serve in
those roles in the interim.
Flowers Foods Inc. (FLO) is set to kick off bidding for most of
Hostess Brands Inc.'s bread business, offering a total of up to
$390 million for brands including Wonder Bread and Nature's
Pride.
Hartford Financial Services Group Inc. (HIG) said Chief
Executive Liam McGee underwent surgery to successfully remove a
pre-cancerous brain tumor late last month.
Vera Bradley Inc.'s (VRA) finance chief has resigned, and the
handbag maker has initiated a search for his replacement.
Wausau Paper Corp. (WPP) has retained financial advisers to
assist in a review of strategic alternatives for its paper
business, saying it intends to focus on growing its tissue
segment.
Write to Anna Prior at anna.prior@dowjones.com
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